TSX Settles Marginally Lower

(RTTNews) - The Canadian market recovered after a weak start on Wednesday, but slipped into negative territory past noon, and despite staging a recovery thereafter, ended the session with a marginal loss.

Renewed uncertainty about U.S.-China trade deal rendered the mood cautious. A sharp rise in crude oil prices triggered hectic buying at several counters in the energy space and limited the market's downside.

The benchmark S&P/TSX Composite Index ended down 5.58 points, or 0.03%, at 17,005.82. The index, which rose to a new high of 17,040.60, touched a low of 16,962.61.

Enerplus Corp (ERF.TO), Encana Corp (ECA.TO), Tourmaline Oil Corp (TOU.TO), Whitecap Resources (WCP.TO), Baytex Energy (BTE.TO) and MEG Energy (MEG.TO) gained 2 to 4.3%.

Vermilion Energy (VET.TO), PrairieSky Royalty (PSK.TO) and Crescent Point Energy (CPG.TO) also ended notably higher.

Cannabis shares rose thanks to passage of a bill that aims to lift the federal ban on weed. Canopy Growth Corp (WEED.TO) soared nearly 16% on rating upgrade. Aurora Cannabis Inc. (ACB.TO) zoomed 12.5%, Aphria Inc. (APHA.TO) gained 5.5%, Hexo Corp (HEXO.TO) gained 3.3% and Cronos Group Inc. (CRON.TO) ended up 2.6%. Organigram Holdings (OGI.TO) rallied 7.2% and Village Farms International (VFF.TO) ended stronger by 15.7%.

Bombardier Inc. (BBD.B.TO), B2Gold Corp (BTO.TO), First National Financial Corporation (FN.TO) and Parkland Fuel Corporation (PKI.TO) were among the other notable gainers in Wednesday's session.

U.S. stocks ended weak due to renewed uncertainty about a U.S.-China trade deal. The Nasdaq slid 0.5%, while the Dow and the S&P 500 both ended lower by 0.4%.

Stock markets across Asia and Europe also ended lower on trade jitters.

In commodities, West Texas Intermediate Crude oil futures for December ended up $1.90, or 3.4%, at $57.11 a barrel on the expiration day.

Gold futures for December ended down $0.10 at $1,474.20 an ounce for the session.

Silver futures for December ended down $0.003 at $17.115 an ounce, while Copper futures for December settled at $2.6495 per pound, down $0.0070 from previous close.